Marco Polo Marine's (SGX:5LY) 49%-indirectly owned subsidiary, PKR Offshore, incorporated a stepdown subsidiary, Baramgil, in South Korea, according to a Wednesday filing with the Singapore Exchange.
The company has an initial capital of 135 million won and is 90% owned by PKR Offshore and 10% by Su&Jin.
The new business's principal activity is investment holding.
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